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Zynga Announces 18 Percent Layoff of Workforce as Shares Plummet, Analysts Defend the Stock
Tuesday, June 4, 2013 - 10:09am | 559Mobile app maker Zynga (NASDAQ: ZNGA) Monday announced that it was reducing its head count by about 18 percent and closing offices in an attempt to reduce costs. The company has been fighting stagnating revenue and is cutting costs to boost profitability. Shares tumbled 12 percent on the news....